Tabby report shows 77% of shoppers plan to use BNPL options for essential spend
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Aleqtsad.
تم النشر في الأربعاء 2024-06-26Tabby, the MENA’s leading shopping and financial services app, conducted an in-depth analysis of their shoppers’ buying habits to determine the primary uses of BNPL. The research, based on a survey of 2,500 Tabby shoppers, revealed that the majority use BNPL for essential purchases, rather than discretionary spending. Essential purchases include education, groceries and medical clinics, whereas discretionary spending includes categories like fashion, beauty and high-end services.
Essential items trump luxury purchases
While discretionary spending on Tabby continues to grow, the findings of this study underscore a significant discovery in BNPL usage. 77% of Tabby shoppers plan to use the financial service for essential purchases in 2024.
Data from Tabby showed that first-time BNPL purchases are twice as likely to be essential rather than discretionary with essential purchases such as education and medical expenses occurring twice as frequently. This indicates that a large proportion of BNPL usage is dedicated to essential spending, rather than discretionary purchases.
Tabby’s data highlighted that essential purchases through BNPL have a larger average value than discretionary purchases. This shows that for many shoppers, BNPL offers an affordable and accessible way to purchase high-value essentials such as household appliances and insurance, as customers prioritizespending on necessities.
Two-thirds of Tabby shoppers have stated that BNPL is an essential tool to manage cash flow, indicating that BNPL remains a vital tool for money management. It provides an accessible and affordable way for customers to access credit.
Hosam Arab, CEO and Co-Founder of Tabby, said: “Our research shows that BNPL is an important tool that helps customers take control of their spending. Tabby is committed to supporting our community and helping our customers make financially sustainable and responsible decisions.”